Avoid Bad Financial Decisions: Don't Pawn Your Car
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Avoid Bad Financial Decisions: Don't Pawn Your Car

There are a number of financial decisions that are sure to lead to easy ruin.

Just like time, money is always much better to spend when it's planned. Yet, centuries of rampant capitalism and high opportunity for profits have given us Americans a taste for the good life. There are a number of companies that exist solely to capitalize on the impulses and desires that we cannot afford, because there is good money to be made in the margins of our budgets. Truly, however, there is a time to spend and a time to save, and the time to spend is not when you don't know how next month's budget will come together.

It is difficult to understand what convinces an individual that they are entitled to a better life; we must simply be aware of whether or not the feeling of entitlement is an issue that we struggle personally with. Certainly, it is an individual's choice of how to live their own life, but it is indisputable that living within your means saves a great deal of grief and worry over finances. It is easier to make good financial decisions if you think in terms of what you can afford instead of what you want.

Perhaps the quickest example of what not to do is going to a title pawn agency. These discreet little shops often offer to meet you anywhere, and they would be happy to do so: they leave with the title of your car and you stuck with a high interest loan. It's a no-risk investment for them, and a no-win situation for you. All title pawn agencies act genial and kind, but they have nothing good to offer you. Additionally, if you find yourself considering heading to a title pawn agency, you definitely don't have the money to cover the loan in the first place, which means repaying it will take some time. To a title pawn agency, time is money, because that interest keeps clicking away. And, if you do find that you are unable to repay the loan, you may lose your form of transportation, and this may cause you to lose your job. Instead of looking for quick cash, look for weekend side jobs to fill the margins of your budget. If title pawn agencies couldn't make a killing doing this kind of work, they wouldn't exist.

Consider carefully what your needs and wants are. Every financial situation is a different story, so there is no catch-all solution, but you will find areas of your budget where money leaks through if you search hard enough. Do you need internet access, cable television, and one cell phone per family member? We each have a financial reality that we must live with, and if we are careful instead of reckless, we might then add a few extra years of oxygen for when times are hard.

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Comments (1)

lol, yup better keep that car